Upon completion of theRequired Readings, write a thorough, well-planned narrative answer tothe following discussion question. Rely on your Required Readings andthe Lecture and Research Update for specific information to answer thediscussion question, but turn to your original thoughts when asked toapply, evaluate, analyze, or synthesize the information. Your DiscussionQuestion responses should be both grammatically and mechanicallycorrect and formatted in the same fashion as the questions themselves.If there is a Part A, your response should identify a Part A, etc. Inaddition, you must appropriately cite all resources used in yourresponses and document them in a bibliography using APA style.Accrual accounting dominates financial reporting. Companies recognizerevenues when earned and expenses when incurred, regardless of whencash is received or paid for these activities. Discuss the followingtopics in light of this information. (20 points) (A 1½-page response isrequired.)Do financial statement measures have to conform with GAAP to be useful to analysts? Explain.Does cash flow earnings per share (CFEPS) have value in addition to the conventional accrual-based EPS measure? Why or why not?